SEZ Act unlikely before Sept 1
Framing of rules under the Special Economic Zone Act is likely to take some more time and Government is unlikely to notify them before September 1.
By PTI |
NEW DELHI: Framing of rules under the Special Economic Zone Act is likely to take some more time and Government is unlikely to notify them before September 1.
"SEZ rules are unlikely to be notified before September 1. We will be holding another round of consultations with the development commissioners and the final draft would be ready by end of August," Additional Secretary, Ministry of Commerce, G K Pillai said here.
The final draft would again be put on the Ministry's website for comments by stakeholders, he said, adding the rules may, however, be tabled in the Monsoon session of the Parliament.
Speaking at a seminar on SEZs organised by PriceWaterhouseCoopers and Export Promotion council for EoUs and SEZs, he said the objective of the SEZ Act was to create a hassle-free regime and the rules would be formulated keeping this in mind. "Rules will take care of many issues," he said indicating that the emphasis would on to simplify procedures. He said the Ministry was also holding talks with State Governments as they have to play an important role in the development of SEZs.
"SEZ rules are unlikely to be notified before September 1. We will be holding another round of consultations with the development commissioners and the final draft would be ready by end of August," Additional Secretary, Ministry of Commerce, G K Pillai said here.
The final draft would again be put on the Ministry's website for comments by stakeholders, he said, adding the rules may, however, be tabled in the Monsoon session of the Parliament.
Speaking at a seminar on SEZs organised by PriceWaterhouseCoopers and Export Promotion council for EoUs and SEZs, he said the objective of the SEZ Act was to create a hassle-free regime and the rules would be formulated keeping this in mind. "Rules will take care of many issues," he said indicating that the emphasis would on to simplify procedures. He said the Ministry was also holding talks with State Governments as they have to play an important role in the development of SEZs.
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